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“One Bitcoin, One House,” Nonsense or Reality?

“One Bitcoin, one house” has recently become a new expectation among Chinese Bitcoin investors. Zhao Dong, an old Bitcoin holder, said that not everyone has the luck to get rich.

“When I first heard of Bitcoin in 2009, I didn’t take it seriously. I thought it was just something like bonus points,” noted Zhao.

But later in 2013, when some of his friends earned a lot from Bitcoin, Zhao thought maybe he should give it a try. He began to learn everything about Bitcoin and its underling technologies. At first, Zhao bought a mining machine with 40,000 CNY and mined 40 Bitcoins, which was really a bad bargain. Because at that time, the price of one Bitcoin was about 50 cents and with￥40,000, he could buy 100 Bitcoins.

From 2013 to 2014, he invested tens of millions of RMB in mining at Ordos city, Inner Mongolia, China, but suffered heavy losses when Bitcoin price slumped from 8000 CNY to 900 CNY.

“The money I got from mining Bitcoins could not even afford the electric bill, about 2 million RMB per month. So I sold all the mining machines and stopped mining.”

The total number of Bitcoins are 21 million, among which 16 million have already been generated so far. While Bitcoin mining initially used to be carried out at home, it is too costly for individuals to mine Bitcoins and it has moved to industrial-scale mining.

“At that time, Bitcoin holders were actually losing confidence as the price kept falling, but I was really excited to buy Bitcoins at much lower price because I was so sure the price would skyrocket in the future, so I bought 1 million CNY worth of Bitcoins and decided to hold them for long term.”

Now the price of per Bitcoin has reached over 1100 USD. Causes of the spike include more media coverage and venture capitalists pouring money into the world of Bitcoin.

Actually, even today 99 percent of people still think Bitcoin a speculation asset.

“It is no easy to get rich. I bet some people, especially those who are impulsive or shortsighted would go bankrupt because they would borrow money or even sell house to buy Bitcoins. And when Bitcoin price falls dramatically, they would sell Bitcoins instantly. Those people are likely to become penniless. My suggestion is that if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people haven’t realized the real significance of Bitcoin.“

Zhao believed that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency. When be asked if Bitcoin will one day be used in everyday life, Zhao said that:

“The Matrix is one of my favorite movies, in which you cannot find a fine line between virtual and reality. Actually, the Internet has already blurred this line and I believe Bitcoin is the future of money.”

Now Zhao is running an agent to help people trade Bitcoins.

“I help trade 100,000 Bitcoins a year. The annual volume of trade is 1 billion RMB and I could earn 1% out of it. Going forward, I will work to explore more business models in the thriving Bitcoin ecosystem. “

I have been living two lives. In one life, I am a news editor of 8btc. I translate news, interview bitcoiners and miners. In the other life, I am an AI bot programmed to .......Forget it! Who is gonna buy this BS! I'm just me, Cindy, nobody else.

COMMENTS(69)

2 years agoBitcoinAllBot

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

I wouldn’t agree completely with this. Not all are professional traders and not all have so extensive knowledge but that doesn’t mean they can’t try their chances in Bitcoins trading and get some experiences. Some.people will find the trading is not for them and give up and some will succeed.

They all started with the wrong notion about bitcoin. And it looks like that time they are “all-in” in bitcoin that why he suffered loses when the price slump. They don’t really understand what bitcoin in the beginning. They all jump on the bandwagon thinking that they will become millionaires. Its not a get to rich scheme. This is the problem when they all started. But the article also says that he bought bitcoin as store of value and save it for longer term. This I would agree because this is also my idea on what one should do if they have money. Bought bitcoin and save it for long term as investment because the price will exponentially double in the years to come.

Quote from: Doofus on Today at 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin.
looks like all the bitcoin hodlers think alike:Do not buy bitcoin IF…Quote from: Doofus on Today at 10:03:10 AM
he believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
it already has redefined currency. something that was centralized for many many years, is not decentralized and awesome.and also i should add that all this only applies to those who want to invest in bitcoin but bitcoin is a lot more than just an investment. and if anyone thinks otherwise then they have not yet understood what bitcoin really is!Quote from: Slow death on Today at 11:02:07 AM
In this site news.8btc.com the price of bitcoin is $1151 in poloniex the price of bitcoin is $1400To be more exact $1420 at this moment that i write.

poloniex is not a bitcoin/fial exchange and that price is not $ it is USDT price and USDT is not fiat it is an altcoin called tether which was supposed to be worth 1 USD but it couldn’t keep up the promise and fell down to $0.91 last time i checked.also price on 8btc (i think) comes from Chinese exchanges since that site is also Chinese. and price is low there because their exchanges are practically closed down.

Quote from: Doofus on Today at 10:03:10 AM
he believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
This is something that I can agree to. Bitcoin is great new currency but in reality, only a fraction of the world population uses it. And yes bitcoin is not perfect, well cmon we already know the block size issue. So it is nowhere near to become a mainstream currency just yet and probably won’t be for decades.

How are you going to learn if you not going to be hands on with this technology? Yes, the math and technical details behind this technology is not for everyone. What you do need to know is, this is a scarce commodity and it will just increase in price over time as demand increase. I highlighted that part on purpose, because I feel it is important that there should be a higher demand, linked to the scarcity. Trading in a currencyand commodity is all the same, if you understand the economic principles behind it.

Quote from: Doofus on Today at 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

Eh, what a sad story this guy told, he had a lot of losses, but times change, his advice is good, he gave those advice based on the experience he had in the past.OfftopicIn this site news.8btc.com the price of bitcoin is $1151 in poloniex the price of bitcoin is $1400To be more exact $1420 at this moment that i write.

I don’t agree with this guy. Why can’t anyone invest in bitcoin? If anyone knows about the market, they can invest and get a good profit. Its that simple! If I had money to spend, I will also gonna buy as much as I can.

Quote from: bitbunnny on Today at 11:19:57 AM
I wouldn’t agree completely with this. Not all are professional traders and not all have so extensive knowledge but that doesn’t mean they can’t try their chances in Bitcoins trading and get some experiences. Some.people will find the trading is not for them and give up and some will succeed.

I agree, everyone should be given the chance to invest in bitcoin, most of us learn investing by reading the news and be brave to join the investment, by doing it we will gain the real experience for investment, so if we don’t try we won’t ever have the experienceI believe bitcoin can become a future currency but to make it mainstream, it still need a lot of time to happened, so to buy one house with one bitcoin still far from happening

Quote from: Doofus on Today at 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

He is right about bitcoin,but i don`t understand the meaning of “one bitcoin,one house”.Bitcoin isn`t ready to dominate the world economy and many investors think that btc is just easy profit or some Hyip.

to your subject i have to say it is possible. there is only 21 million coins available! if you compare that amount with other things such as gold for example the supply is too small and that means price can potentially rise to such prices that you can buy a house with 1 bitcoin.but i don’t like the approach of calling bitcoin an investment only, if we start treating it as only an investment then there won’t be more adoption. there will only be whales holding large amounts of bitcoin and playing with the price to make more fiat! and that will never help bitcoin.

Maybe the guy is just making a warning of the risks involved in “investing” or holding Bitcoin primarily because of its amazing volatility. However, I also do not agree that we have to limit the scope of Bitcoin for those who already have the knowledge in trading and in cryptocurrency. The only way we can make Bitcoin is to encourage more and more people to use the digital currency. Bitcoin should be for everybody though of course not everybody for Bitcoin…there should be no barrier whatsoever in inquiring it.

Quote from: iamTom123 on Today at 03:57:22 PM
Maybe the guy is just making a warning of the risks involved in “investing” or holding Bitcoin primarily because of its amazing volatility. However, I also do not agree that we have to limit the scope of Bitcoin for those who already have the knowledge in trading and in cryptocurrency. The only way we can make Bitcoin is to encourage more and more people to use the digital currency. Bitcoin should be for everybody though of course not everybody for Bitcoin…there should be no barrier whatsoever in inquiring it.

I agree with you and think that he’s only trying to suggest an elitist Bitcoin rather than the original Bitcoin which we know belongs to the masses. It’s been volatile from day one and no one is disputing that but it shouldn’t be the stambling block for newbies and wannabes because the more people get involved the better Bitcoin will be for all of us.

When you learn something, you have to learn it for good. That was the point for me, for that he said. Everyone can try to use btc, but I don’t know if that will be good for the rest of us. What am trying to say is that big fishes eat the smaller ones, so new users just be careful and don’t do stupid things with btc.

One day bitcoin might worth a lot, but a lot things should change by those time, as we already know 2100 its expected to all bitcoins mined, but no one can predict the value on the next 2 years imagine into 83 years. I know bitcoin will be forced to get more and more value due to his code and mining suplly decrease to half after xx period, soo with that said btc can workt 4000 at 2020 from the current marker value.

He probably lived though a slump or went all in that’s he have that view. Anyone is free to get into bitcoins and it is for them to decide if they are willing to take the risk. Right now the price is at an all-time high, and that could encourage more people to buy in. Those would probably be the people who would end up disappointed.I believe bitcoins would really change the way we do our finances and the only thing holding me back is of course my lack of funds. As with everything, be prudent and don’t use money you can’t afford to lose. IMHO those are the only ways to prevent disappointments later on.

Quote from: Denker on April 29, 2017, 07:12:35 PM
One Bitcoin one house can happen pretty fast, at least in the countries the real estate bubble is about to pop!So it’s not unrealistic and mostly will depend on where you live.

If the prediction of the first investor of snapchat that bitcoin price will be $500k in 2030 happen, then we can buy a house with even lower than 1 bitcoin. Deflationary features plus exponential adoption can make the prediction happen.Quote from: Layla Mckenzie on April 28, 2017, 04:18:13 PM
When you learn something, you have to learn it for good. That was the point for me, for that he said. Everyone can try to use btc, but I don’t know if that will be good for the rest of us. What am trying to say is that big fishes eat the smaller ones, so new users just be careful and don’t do stupid things with btc.

Small fishes can stay away from the playground of big fishes so that they won’t be eaten. Big fishes love to play bitcoin market, so for small fishes to profit from this, they must hold their bitcoin and do not be affected by FUD and fake dump created by this whales. Whales always wants profit so they will never crash or destroy their playing ground (bitcoin market).

One bitcoin-One house,depends where In Argentina you can buy house for 25000$ ,in Venezuela island Margherita you can find house for 15000$ i know places in Italy where you can buy house for 30000$ euroIn north Tenerife you can own house free without electicity if you want to get electricity you pay 1000 euro]So sure 1btc 1house is very real

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

He is right about bitcoin,but i don`t understand the meaning of “one bitcoin,one house”.Bitcoin isn`t ready to dominate the world economy and many investors think that btc is just easy profit or some Hyip.
Of course. In fact I’d say most people think bitcoin is just a vehicle for quick profit. Most people on this forum probably think the same way. But I don’t think this guy is delusional by any means. Bitcoin has enormous growth potential, but we’re still a ways away from the “one bitcoin, one house” thing. Maybe 5-10 years away.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
He is right about bitcoin,but i don`t understand the meaning of “one bitcoin,one house”.Bitcoin isn`t ready to dominate the world economy and many investors think that btc is just easy profit or some Hyip.
Of course. In fact I’d say most people think bitcoin is just a vehicle for quick profit. Most people on this forum probably think the same way. But I don’t think this guy is delusional by any means. Bitcoin has enormous growth potential, but we’re still a ways away from the “one bitcoin, one house” thing. Maybe 5-10 years away.

Timescale isn’t easy to predict, at all. We are like ten years underway so far. “redefine currency” is key. To be honest not even that point is clear, figuring out smart contracs, just Ethereum mentioned. Money that “interacts” with you isn’t formerly known from paper bills.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
I do not agree with his advise because if a person will not come close to bitcoin then he will not know forever about it and if a person will come close to bitcoin and will adopt it in their ignorance then a day will come when he will be the expert of blockchain technology.

To buy a house with one bitcoin is a bit dreamy, it will be long wait it maybe can happened if all of us support bitcoin and more people using bitcoin, but as I can see now people are now also invested in alt coin which, so they dont really put their investment in ine basket, this will caused the bitcoin price rising slow downAnd for the Zhao Dong advice I am completely not agree, everything need to be learned and all things is start from zero, we need to try then we can gain more experience and can become better

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
I do not agree with his advise because if a person will not come close to bitcoin then he will not know forever about it and if a person will come close to bitcoin and will adopt it in their ignorance then a day will come when he will be the expert of blockchain technology.

I don’t agree also. I believe everyone should try Bitcoin investment, expertise or not. Anyone can hold BTCs and wait to sell it for a higher price, the return is amazing and it’s an easy task, just need to follow the market.But I agree somehow when he says people shouldn’t sell important, valuable things they have to buy Bitcoins, because you always must have a plan B in case of plan A fails. Just sell things and convert this money to BTCs if you are rich and earn decent income from different places. To have a house is a good investment and worth a lot, even better than Bitcoins!

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
I do not agree with his advise because if a person will not come close to bitcoin then he will not know forever about it and if a person will come close to bitcoin and will adopt it in their ignorance then a day will come when he will be the expert of blockchain technology.

I don’t agree also. I believe everyone should try Bitcoin investment, expertise or not. Anyone can hold BTCs and wait to sell it for a higher price, the return is amazing and it’s an easy task, just need to follow the market.But I agree somehow when he says people shouldn’t sell important, valuable things they have to buy Bitcoins, because you always must have a plan B in case of plan A fails. Just sell things and convert this money to BTCs if you are rich and earn decent income from different places. To have a house is a good investment and worth a lot, even better than Bitcoins!

Let’s think simply, let’s just say we already have knowledge about cryptocurrency and the fundamentals of investment because we already feel the power of bitcoin in our economic productivity, our difference with them above is we give a positive understanding for every person new to bitcoin so that volume will continue to increase, Successful business is a business that continues to experience additional users with ever-increasing graphics. In 20 years I believe bitcoin will continue to grow and 1 bitcoin coin will be able to buy a home, maybe more than one for a third world country.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
I do not agree with his advise because if a person will not come close to bitcoin then he will not know forever about it and if a person will come close to bitcoin and will adopt it in their ignorance then a day will come when he will be the expert of blockchain technology.

I don’t agree also. I believe everyone should try Bitcoin investment, expertise or not. Anyone can hold BTCs and wait to sell it for a higher price, the return is amazing and it’s an easy task, just need to follow the market.But I agree somehow when he says people shouldn’t sell important, valuable things they have to buy Bitcoins, because you always must have a plan B in case of plan A fails. Just sell things and convert this money to BTCs if you are rich and earn decent income from different places. To have a house is a good investment and worth a lot, even better than Bitcoins!
Well if you look at it closely, That Zhao has a point . What he sought is not an expertise but just a basic understanding of what investment is . People without it tend to become more penniless which is true so it doesn’t mean that everyone doesn’t have a chance to try bitcoin investment because everyone is free to learn the basics . Learning or having a background knowledge of what you will invest in is a must to minimize risks .

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

Always listen to your elder folks they are right, but in this case definitely don’t agree with the advice. What I may agree is, when people initially join Bitcoins it’s for fun rather investment, but with a passage of time, they truly understand the power of Bitcoins and then start to make solid and wise decisions. Again I feel that no one should advice what to do with his/her coins. It’s a free world and people should be given freedom to do what they wish to do. Bitcoin has already been accepted in Japan and many other countries are in line to follow suit, so guess our elder folk really needs to get up and update himself as it seems he’s not aware of recent developments.

I think this is nonsense for bitcoin to buy a house that is decent and if it is possible i’m sure that it will take a lot of years to wait before you can buy a decent house with just only one bitcoin. Be realistic and you know that even the current price of one bitcoin cannot buy anything even at least a lot for your house so there is no chance for bitcoin as of now, i think, that it can buy a house.

Quote from: DoublerHunter on April 30, 2017, 07:42:38 AM
I think this is nonsense for bitcoin to buy a house that is decent and if it is possible i’m sure that it will take a lot of years to wait before you can buy a decent house with just only one bitcoin. Be realistic and you know that even the current price of one bitcoin cannot buy anything even at least a lot for your house so there is no chance for bitcoin as of now, i think, that it can buy a house.

It might be nonsense, but everything is a possibility. All we need is time and patience,maybe in the near future these possibility will be a reality. Now, the price of bitcoin is not that much for you, but for me it is enough to build a simple house. Here in our country, a price of 1 bitcoin is enough to make something big out of it, we just need to think how to do it.

The thing is, if the people here read why people think that the price of Bitcoin will get to a price like a $100,000 or a little over that amount then why aren’t there more people holding at least a single Bitcoin in their Bitcoin Address? It seems a little off to me to have people spending what they can’t afford to lose while not holding a single Bitcoin in their Bitcoin Address.If I wanted to make more Bitcoin then I would just work a regular job to get more Bitcoins just in case the price went up.

Quote from: bustedsynx on April 29, 2017, 08:41:50 PM
Reading this thread re-affirms my belief, most who hold bitcoins are speculators and not users.

So what.? Most of the gold and diamonds in the world are in the ornaments of women. Bitcoin became an investment rather than just a currency and users showing more interest in BTC for investments, there is nothing wrong in it.

Quote from: DoublerHunter on April 30, 2017, 07:42:38 AM
I think this is nonsense for bitcoin to buy a house that is decent and if it is possible i’m sure that it will take a lot of years to wait before you can buy a decent house with just only one bitcoin. Be realistic and you know that even the current price of one bitcoin cannot buy anything even at least a lot for your house so there is no chance for bitcoin as of now, i think, that it can buy a house.

It might be nonsense, but everything is a possibility. All we need is time and patience,maybe in the near future these possibility will be a reality. Now, the price of bitcoin is not that much for you, but for me it is enough to build a simple house. Here in our country, a price of 1 bitcoin is enough to make something big out of it, we just need to think how to do it.
What country are you from? Can you think again for the $1,300+ price for 1 bitcoin? that is not enough to build something decent because if you do build a house with 1 bitcoin then it is sure that it is a crap and will breakdown just a few years later. Save more money or collect at least 5-10 bitcoins then you can build a long term investment house.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

meh, i say even as a blind investor you can invest in bitcoin with a small amount. for example 2 years ago you could have bought 1 whole bitcoin for only $200 and i don’t think anybody can consider this a big amount of money to invest!and in 2 years you easily had $1300.the same goes for now, if you are a “blind investor” then just go in with a small amount like the same $200 of 2015. and hold for 2 years!

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

I hate to disagree, but this is a very discouraging post. In the first time that we are going to do a certain thing, it is obvious that we don’t know what to do, that is why the word “study” do exist, and it is quite few that there are people who knew what they are going to do in the first time that they are going to do something.And not all people are just like that, we are risking something, or doing something in order to learn new things, especially in this world. If you don’t know Investment, then it doesn’t mean that you have to stay away from it, because how are we going to know what we are going to do if we are going to avoid it, right?The best thing to do is to try all the things that we didn’t know yet, for us to learn more, to explore more, and we don’t have to listen on those discouragements out there.

Quote from: DoublerHunter on April 30, 2017, 07:42:38 AM
I think this is nonsense for bitcoin to buy a house that is decent and if it is possible i’m sure that it will take a lot of years to wait before you can buy a decent house with just only one bitcoin. Be realistic and you know that even the current price of one bitcoin cannot buy anything even at least a lot for your house so there is no chance for bitcoin as of now, i think, that it can buy a house.

It might be nonsense, but everything is a possibility. All we need is time and patience,maybe in the near future these possibility will be a reality. Now, the price of bitcoin is not that much for you, but for me it is enough to build a simple house. Here in our country, a price of 1 bitcoin is enough to make something big out of it, we just need to think how to do it.

I do not think a bitcoin can build a house, though it’s simple. In fact, although bitcoin carries a great value in comparison to other currencies, it is not enough to dominate the market. A bitcoin, a house. This is unlikely, at least for now. The future is unpredictable, but I still think that as bitcoin increases, matter is also of higher value, so a bitcoin is not enough to make a house.

Quote from: DoublerHunter on April 30, 2017, 07:42:38 AM
I think this is nonsense for bitcoin to buy a house that is decent and if it is possible i’m sure that it will take a lot of years to wait before you can buy a decent house with just only one bitcoin. Be realistic and you know that even the current price of one bitcoin cannot buy anything even at least a lot for your house so there is no chance for bitcoin as of now, i think, that it can buy a house.

It might be nonsense, but everything is a possibility. All we need is time and patience,maybe in the near future these possibility will be a reality. Now, the price of bitcoin is not that much for you, but for me it is enough to build a simple house. Here in our country, a price of 1 bitcoin is enough to make something big out of it, we just need to think how to do it.

I do not think a bitcoin can build a house, though it’s simple. In fact, although bitcoin carries a great value in comparison to other currencies, it is not enough to dominate the market. A bitcoin, a house. This is unlikely, at least for now. The future is unpredictable, but I still think that as bitcoin increases, matter is also of higher value, so a bitcoin is not enough to make a house.

I think I understand that a bitcoin can make a house in my country, My country, Philippines is actually a humble one, you don’t need a decent house because our country is always visited by typhoons. Most people make a house, a simple one, but a sturdy house they make a house put of wood and cement. It might be a small house, but the important thing about a house is the family that libes there, with a family,it can be called home.

the dude is right. i don’t think he’s telling people not to trade, he’s telling them they’re not seeing the bigger picture. you see it here every day. people gambling, i’ve read that people who are earning with sig campaigns immediately spend it on a bunch of steam games. now cast your mind back into the past. if you’d bought a steam code off someone in 2011 that same money today could buy you a very nice car. the same stuff will be replicated in the future, that’s if bitcoin succeeds. most people have no long term vision. because of that when they squander their bitcoin today, they’re squandering their future too.

I think its not possible to have a house with just 1 Bitcoin, I mean building a house can cost at least 80,000$ not including the lot which means we are expecting 1 Bitcoin to equal that much. I don’t think it would reach that high even if Bitcoin becomes a mainstream currency. Having a currency that is worth like that will make the government take action and I don’t mean the good way for Bitcoin, it would mean total control of it, to control its price.

Quote from: Theb on April 30, 2017, 12:27:39 PM
I think its not possible to have a house with just 1 Bitcoin, I mean building a house can cost at least 80,000$ not including the lot which means we are expecting 1 Bitcoin to equal that much. I don’t think it would reach that high even if Bitcoin becomes a mainstream currency. Having a currency that is worth like that will make the government take action and I don’t mean the good way for Bitcoin, it would mean total control of it, to control its price.

maybe, maybe not, for both parts of your comment!i believe it is a possibility to reach that price. afterall price has gone up 1300% in 8 years and that is 162% rise each year and this rate can increase as a major adoption occurs and you should always consider the limited supply of bitcoin when you talk about the price.also bitcoin being decentralized, it can always exist and nobody can do anything about it

It’s as simple as understanding supply and demand. 21 million coin supply, limited supply. If the demand gets going up, the price gets going up. So yes, the price could perfectly reach a value high enough to buy a house with a single bitcoin. I expect this to be a fact by around 2030 once the inflation curve is almost flat.

I am not agree that one bitcoin ,one house because one bitcoin is just around 33,000 in the philippine peso currency and it is not enough money to buy a house. Though you can buy any investment that is not so expensive. Bitcoin is helpful to spend for your extra expenses and not to be burden to other expenses that you have.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

Great story from his experiences, and he has bought 1 Million CNY worth of bitcoin at that time when bitcoin price slumped to 900 CNY which his mining farm went bankrupt. Bitcoin has proven itself as great asset for long term, but so many people do not believe in bitcoin in long term and do not want take a risk. And good vision to expect 1 bitcoin – 1 house, which the chance isn’t zero as the value today still in early days of development, 8 years so far and what about 10 years later? Only people who have faith in bitcoin will get rich in the future, saving bitcoin as much as you can.

Quote from: Denker on April 29, 2017, 07:12:35 PM
One Bitcoin one house can happen pretty fast, at least in the countries the real estate bubble is about to pop!So it’s not unrealistic and mostly will depend on where you live.

If the prediction of the first investor of snapchat that bitcoin price will be $500k in 2030 happen, then we can buy a house with even lower than 1 bitcoin. Deflationary features plus exponential adoption can make the prediction happen.

You’re right and I will not try to deny that. Neither me or any “expert” knows what’s going to happen in the far future with Bitcoin and all other crypto currencies.And yes Bitcoin has an enourmos upside potential.21 million tokens is nothing compared to ~7 billion people on this planet.If mass adoption should happen, 6 digits may be a goal in a few decades.But this is pure wild guessing.And to support your argument with the snap chat investor. He isn’t the only one saying that Bitcoin could reach 6 figures.There are people who think it BTC could be even worth more than a million USD. But I’m not one of the guys who likes to think so much into the future. Bitcoin i still very new technolgoy and a majority of the world population still have no clue how it works. Thefore I prefer to think in small steps. Bitcoin right now is like internet 1992-1995 imo. Patience is needed.

Just looking at the current price, >99% of the HODLER has not lost any money if they hold on to their coins… I did bought fraction of a coin when it was at the 2013 ATH of about $1163… But now I am all green. Just hold!

If you invested in bitcoin in earlier in 5-9years ago not possible that your a rich man now and can buy a house but even this day you can’t buy a house with 1 bitcoin i guess even in the future bitcoin has a era every 4 years for the bitcoin limit so the price will go down also not just up.

Zhao Dong is just bitter because his mining operations weren’t that successful as he wanted them to be.He tried to mine but if he would use that money he used to buy mining equipment to simply purchase BTC he would gain a lot more.This is the reason he is warning people not to buy Bitcoin now – he grew jealous of others success.

Realy everything depends on the engle you look from. Having in mind todays Bitcoin price and how bad situation is in some parts of the world that are very poor, you can already buy a house there for one Bitcoin or even less. But in some western relations of developed countries Bitcoin should achieve extremly high price to buy a house just for one Bitcoin and I’m not sure that this would ever be possible.

For now, it does not make any sense. Well, maybe this time it takes 5 btc or more to buy a house, even more so nowadays very much need it. But, when bitcoin has a high price in the future, it might be possible, because we never know where the bitcoin potential is.

Complete nonsese, I’ve never been able to fully understand how people think it would be possible that the bitcoin price would increase so much and people would still be wanting to buy it for such a high price. For this to happen, the BTC price would have to come to a point where it’s at something like 400-500k per bitcoin.This would mean pretty much anyone who owned a small amount of bitcoin when it was at like 2000 and below would get a substantial amount of money from the price rising this much. ALSO, you have to think about the supply and demand here.I don’t think they’ll ever be such a demand unless something insane happens to Bitcoin, it just doesn’t make sense to me at the moment.

Quote from: OrangeII on April 30, 2017, 04:47:52 PM
For now, it does not make any sense. Well, maybe this time it takes 5 btc or more to buy a house, even more so nowadays very much need it. But, when bitcoin has a high price in the future, it might be possible, because we never know where the bitcoin potential is.
Seriously are you telling that you are able to purchase a house for just 5 btc which is insane and what part of the world you are in. For me to get a decent house i need to have at least a couple of hundred bitcoin and it is really difficult to reach that heights with the level i am earning now,lets see what the future holds with the price and i am always positive .

There is no tested and proven “bitcoin world” where experience is an advantage. Cryptocurrencies are uncharted territory. No one knows “what will happen”. No one has been here before & there are no historical precedents which can be applied to deduce what the wholesale outcome will be.Having experience with stock market trading or investments can be an advantage with trading on exchanges, many of the basic fundamentals apply.But that doesn’t apply to buying and holding BTC where there are many unknowns in terms of what the price ceiling is, fork implications and what effect mass adoption in japan, russia & other countries could have.

Quote
In 2013, when some of his friends earned a lot from Bitcoin, Zhao thought maybe he should give it a try. He began to learn everything about Bitcoin and its underling technologies. At first, Zhao bought a mining machine with 40,000 CNY and mined 40 Bitcoins, which was really a bad bargain. Because at that time, the price of one Bitcoin was about 50 cents

Many things about this seem fishy – or the author is quite confused. E.g. Bitcoin was not “about 50 cents” in 2013. It hit dollar parity in Feb 2011.

Quote from: swogerino on May 01, 2017, 10:02:33 AM
One bitcoin one house is a real possibility and a touchable reality but the problem is when this will be real we would all be dead or at least most of us because maybe here there are really young people of age less than 20 years old. It will take several years until 1 bitcoin to reach 100.000 dollars as that is the minimum price to buy a house in a developed country. I agree with Zhang Dao whoever this guy is.
I don’t know that is a bold statement to say because right now Bitcoin is price at 1440$ per Coin in which comparing to your goal is highly unlikely 100,000$ actually is a big amount and I don’t think any usable currency can ever reach that kind of amount. I know everyone is thinking about Bitcoin being the currency of the future, but the future of Bitcoin itself is highly uncertain. With the government being an issue to it, even other competing Altcoins would be a threat to Bitcoin’s growth in price. I would like to say is lets keep our goal realistically let us take advantage of what we have now.

Quote from: swogerino on May 01, 2017, 10:02:33 AM
One bitcoin one house is a real possibility and a touchable reality but the problem is when this will be real we would all be dead or at least most of us because maybe here there are really young people of age less than 20 years old. It will take several years until 1 bitcoin to reach 100.000 dollars as that is the minimum price to buy a house in a developed country. I agree with Zhang Dao whoever this guy is.
I don’t know that is a bold statement to say because right now Bitcoin is price at 1440$ per Coin in which comparing to your goal is highly unlikely 100,000$ actually is a big amount and I don’t think any usable currency can ever reach that kind of amount. I know everyone is thinking about Bitcoin being the currency of the future, but the future of Bitcoin itself is highly uncertain. With the government being an issue to it, even other competing Altcoins would be a threat to Bitcoin’s growth in price. I would like to say is lets keep our goal realistically let us take advantage of what we have now.
If we look back not even a decade, a bitcoin could be bought for a dollar or so.Who would have guessed that time that it would be worth a thousand times that much today?I say if such a developement has already happened in the past, it proves that it is possible.One bitcoin equals one house in a developed country in twenty years, I say why not.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.
If bitcoin is going to redefine the term currency and it is expected to be very valuable why we must stay away from it, just so he can get even more profits?

Quote from: DroomieChikito on Today at 06:23:36 AM
This is too boasting, if house has a price $ 120000? , How many years btc to reach the price with home? , This is too delusional in the long run, no one knows the future, or risk value will hit btc price.
If we will stick to one bitcoin only for buying a house then before the time that one bitcoin is enough to buy a house, we are already dead in that time and we can’t buy one bitcoin = one house in our time because bitcoin will need a lot of money and time for the market to reach that point. So there is no chance for just 1 bitcoin to buy anything decent thing like house.

This is too boasting, if house has a price $ 120000? , How many years btc to reach the price with home? , This is too delusional in the long run, no one knows the future, or risk value will hit btc price.

Quote from: DroomieChikito on Today at 06:23:36 AM
This is too boasting, if house has a price $ 120000? , How many years btc to reach the price with home? , This is too delusional in the long run, no one knows the future, or risk value will hit btc price.
If we will stick to one bitcoin only for buying a house then before the time that one bitcoin is enough to buy a house, we are already dead in that time and we can’t buy one bitcoin = one house in our time because bitcoin will need a lot of money and time for the market to reach that point. So there is no chance for just 1 bitcoin to buy anything decent thing like house.

it is true . Because for 5 years, dollars in bitcoin increased 0.5 billion, it is still quite long, but if buy a house in a barren region do not need to spend more than 1 btc, hehe.

One bitcoin one house is a real possibility and a touchable reality but the problem is when this will be real we would all be dead or at least most of us because maybe here there are really young people of age less than 20 years old. It will take several years until 1 bitcoin to reach 100.000 dollars as that is the minimum price to buy a house in a developed country. I agree with Zhang Dao whoever this guy is.

No we know bitcoin has a big price but one house for one bitcoin is a long run and we know that the price is increasing because of the demand also the mining limit every four years so the price could go down also so it possible to happen but need a long time.

Quote from: Doofus on April 28, 2017, 10:03:10 AM
Zhao Dong, an old Bitcoin holder, suggested to those blind bitcoin investors that:”if you do not have any knowledge of investment basics, please stay away from the Bitcoin world. You will not get rich, and you are just messing with the Bitcoin market. The fact is those people havent realized the real significance of Bitcoin. http://news.8btc.com/one-bitcoin-one-house-nonsense-or-realityhe believes that Bitcoin will become a mainstream currency, but it is and will continue to be an experimental new currency for years to come. Put simply, Bitcoin is so not ready to redefine currency.

He is right about bitcoin,but i don`t understand the meaning of “one bitcoin,one house”.Bitcoin isn`t ready to dominate the world economy and many investors think that btc is just easy profit or some Hyip.
one bitcoin, one house is a very popular expression among chinese btc investors, they believe the price of one btc will worth a house in Beijing(capital of china) in 10 years

It’s true what he said before but is was the past, bitcoin has far more innovated and more users have put big amount of investment in this digital currency and in case you haven’t notice this curency has matured from volatility because people has faith in it.Some countries has started to adopt it and the recent legalization in japan this shows that bitcoin will reach a great price value in the future.